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20130104
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Search Results 0 to 18 of about 19 (some duplicates have been removed)
of these signatures say the same thing. they both belong to treasury secretary tim geithner, who by virtue of being treasury secretary is also the guy who gets to sign our money. when mr. geithner became treasury secretary, he changed his signature. he changed it from the rather lovely loop deloops on the left to the fifth grader's cursive timothy f. geithner you see on the right. here he is explaining why. >> i think on the dollar bill i had to write something that people could read my name. i didn't try for elegance. i just tried for elegance. >> because mrs. quigley, the first grade writing teach worry have given me an f on that. >> i took third grade in new delhi, india. >> whether it is foreign pen man szymanski instruction or something weirder, tim geithner's changed signature never got nearly the attention that his successor's signature received. all of the media got fix excavated on a signature that is loopier than tim geithner's original signature. this is jack lew. all signs point to president obama say i knowing him to replace tim geithner. and if he is nominated and confirmed, that will
way. he is not the sweet talker that tim geithner that republicans are. the easy thing about him, i think you are right. he is far more ideological than that, he is not like tim geithner. he is head of the new york fed. he is well versed in the new york currency and you have a life long budgeteer. can i add to that? i want to say something about out going. i have the highest regard for them. his financial knowledge was excellent. his knowledge of the whole banking arena. and i'll tell you this too, while i disagreed with him on fiscal issues. he and i had a great personal relationship. what i understand is, he does not have a personal relationship and doesn't know how to deal with people on the other side of the i'll. and that on top of his personal experience to me makes this a poor choice. >> on financial experience i'll grant you some points. this is a guy who has been negotiating complicated deals for 20 years. on the hill in the reagan years, and because there were these tough opepisodes, i would reall take that off your list. >> according to that book, he helped sabotage, he w
years ago i stood with mr. tim geithner and announced him as my first nominee to my cabinet. we were barely two months into the financial crisis. the stock market had cratered. the housing market had cratered as well. bank after bank was on the verge of collapse, and worst of all, more than 800,000 americans would lose their jobs in just that month. and the bottom was not yet in sight. so i couldn't blame tim when he tried to tell me wasn't the right guy for the job. but i knew that tim's extensive experience with economic policy made him imminently qualified. and i also knew that he could hit the ground running. as chairman of the new york federal reserve he had just spent several sleepless and chaotic weeks emersed in the complexities of the crisis and had been working closely with his republican predecessor at treasury to save the financial system. then with the wreckage of our economy still smoldering and unstable i asked him to help put it back together. and thanks in large part to his steady hand our economy has been growing again for the past three years. our businesses have c
, is jack lou the right person to replace tim geithner as treasury secretary? and how will apple react it samsung widening its lead over that company in the battle for the smart phone supremecy. more ahead on our power rundown. i've always had to keep my eye on her... but, i didn't always watch out for myself. with so much noise about health care... i tuned it all out. with unitedhealthcare, i get information that matters... my individual health profile. not random statistics. they even reward me for addressing my health risks. so i'm doing fine... but she's still going to give me a heart attack. we're more than 78,000 people looking out for more than 70 million americans. that's health in numbers. unitedhealthcare. tdd#: 1-800-345-2550 when i'm trading, i'm totally focused. tdd#: 1-800-345-2550 tdd#: 1-800-345-2550 and the streetsmart edge trading platform from charles schwab... tdd#: 1-800-345-2550 gives me tools that help me find opportunities more easily. tdd#: 1-800-345-2550 i can even access it from the cloud and trade on any computer. tdd#: 1-800-345-2550 and with schwab mobile,
treasury secretary tim geithner said he figured out a way to keep the government defaulting on the debt for two months? not so fast. a new analysis by the bipartisan policy center says the u.s. may default a month earlier than expected. they say the government will likely run out of money to pay its bills between february 15th and march 1st. we hit the $16.4 trillion debt limit on december 31st. the treasury department said they were taking "extraordinary measures" to put off default. the debt ceiling debate is set to be the next big showdown in washington. both republicans and democrats have vowed to hold firm in their position. >>> and speaking of government spending, a report published monday says the obama administration spent $18 billion on immigration enforcement last year, more than on all the other federal law enforcement agencies combined and 15 times greater than immigration spending in 1986. the nonpartisan research group the migration policy institute says immigration has become the government's highest law enforcement priority. among those likely to be unhappy with that rep
daley. >> and when tim geithner was picked, having worked closely with hank paulson at the federal reserve bank during the crisis, people were comforted by that. they said, well, maybe he's not so liberal. well, as it happened, larry summers was an advocate of more stimulus than others in the administration. so you can't necessarily read that much. events are going to dictate, i think, whether this president adapts his own view necessary a way that people interpret it as going to the center or not. but for the moment, he knows where he is and where he wants to go. and he's picking somebody who can help them achieve his agenda. >> you know, the thing you point out, that this is a situation where business leaders probably wanted one of their own, they may argue they want somebody in there looking for pro growth policies. but maybe more important is somebody who was very familiar with the financial markets. that was somebody that tim geithner created a lot of confidence because he knew the markets so well, knew the underworkings. and when there were big issues, you knew there was some
of staff jack lew of management and budget is considered to be tim geithner's most likely successor and that's deputy national security adviser denis mcdonough. anything could change, but those could be the most likely picks. other members of the administration suggest they're heading for the exits and you would assume the stuff starts ranking up in the next week or so. lisa jackson announced her departure at the end of january and rebecca blank who took over in june after secretary bryson went on medical leave. also expected to leave ray lahood and ken salazar and steven chu. likely with appointments of lew and mcdonough you'll hear more voices demanding more diversity in that cabinet, if you will. how does the president end up solving that problem and create a cabinet that, "looks like america." >>> all right, picking a fight over the president's pentagon pick. one thing the left and the right can agree on. chuck hagel may have an uphill battle in the senate. next, we'll get the view from both sides. former romney campaign adviser dan seymour and dan clemens will be here for a deb
remaining stake in gm. >> the president could name a new treasury secretary to replace tim geithner as early as this week. former fdic chair sheila bair is here on what that could mean for the debt ceiling debate. >>> another day, another bank call. this one, though, in the opposite end of the spectrum from what we've gotten recently. credit suisse downgrading bank of america citing valuation cause for concern. pleasure to have you with us. >> thanks for having me. >> seems like the primary driver behind this is the huge run we've seen in bank of america, the fact that right now it's trading at a multiple of 2013 earnings that exceeds jpmorgan as well as citi. does that imply that where citi and jpmorgan are trading, is that where bank of america should be trading? >> no, it's not at all. because bank of america does have a lot of cost reduction opportunities. on 2014 estimates, it's only one multiple point difference than 2 1/2. it narrows over time. but the issue really is, you know, are those cost cuts going to come in a straight line and could there be any interruptions. >> this almost s
an ally. hello? ally bank. your money needs an ally. >> all right, so picture this. treasury secretary tim geithner gets the mint to make a one coin, the value, $1 trillion. then he takes that coin over to the federal reserve bank and deposits it. then the government writes checks against that trillion dollars. so that does that mean there's no need to raise the debt ceiling? joining us now to explain it all is deputy editor is the business insider. joe? >> how you doing? >> there's a law that says the treasury secretary can mint a platinum coin, how does that work? >> the treasury secretary does have broad discretion over specifically platinum coinage, the size of it, the denomination and so forth. a lot of people frustrated with the debt ceiling, it looks like the same thing in 2011, second time we don't think the debt ceiling is something to be used for a negotiating point, they're excited this could be a way to get around it. >> we showed that provision there. michelle and i were saying, this reminds us of zimbabwe. wouldn't this cause run away inflation? >> that's what people usually
, the mask is off the white house. there's no pretense that they have an interest in spending and when tim geithner's first offer in the negotiations was $1.6 trillion in new revenue, raise the debt ceiling with impunity and have more stimulus spending, that unbridled foolishness that has jarred the gop and the house. so those sort of shutdown questions become easier to coalescing. >> so it's a yes? it's on the table, is that right? >> well, as you and i have talked before, my home state is illinois, which is an example of what not to do. they chose revenues at a state level, didn't deal with the underlying spending drivers and what happened? higher than average unemployment, more per capita debt than any other state in the union almost and been downgraded twice. $7 billion in unpaid bills after the revenues come in. so i'm sensing just in talking to a lot of colleagues today and over the past couple of days a higher level of interest in going much further than they have ever gone before. >> last one, are all revenues off the table as far as you and the house leadership is concerned? >> ye
. they won't specify. the outgoing treasury secretary, tim geithner said, we have no plan. and as geithner always says, plan beats no plan. you have no plan. >> and the american people have no idea what they're talking about on this stuff. >> that i agree with. we're sending conflicting messages. >> it doesn't matter what people think about cutting spending. we have to. >> the polling data show by 75% the american people want spending cuts. i will say this. i may be wrong and you all may be right. but i think the g.o.p. is now migrating towards the spending sequester. including the defense and national security cuts. we're going to debate that in a few moments with general mccaffrey. but i think the gop is migrating there. i think that is exactly the right thing to do. and it shows a little bit of courage. and i think this letter from the four senators today, keith, all it says is waw waw waw we don't want to cut spending. >> that's what john boehner says. interesting rates are low now, inflation is low now. we're still recovering from an economic crisis. this is not the time quite honestl
that tim geithner is using right now to extend it are going to run out. republicans are saying absolutely, no rise in the debt ceiling without an equal number of spending cuts. democrats are saying we're not negotiating with you as all, because as whyte white house press secretary jay carney said look what happened when we tried that in 2011 it resulted in a credit rating downgrade. >> he will not negotiate with congress when it comes to the essential responsibility of congress to pay the bills that congress has incurred. it would be irresponsible to flirt with default. we saw what happened in the summer of 2011 when congress did flirt with default. >> and i think we can conclude from the fiscal cliff debate, maria, is that congress and the white house won't reach an agreement before they absolutely have to, and don't rule out possibility that the white house could yet invoke constitutional authority to unilaterally raise that debt limit if congress is not willing to play ball with them. >> we'll be wag. thanks very much. how far can washington push this debt ceiling fight before damage i
. and that's just not true. that's not what the obama administration has done. and tim geithner to his credit did not repeat that lie. so he's got a lot of problems and i agree, larry, i don't understand why the president keeps putting up people who are not qualified for the job. not only is he not qualified, you've got chuck hagel who he's trying to sell as a great infantry man. i love nurses, but they shouldn't be the head of hhs. we need qualified people with credibility with the other side. >> this whole thing's sort of this insider liberalism. >> right. >> it seems to me, ari, that's basically what jack is. he's an insider liberal, he's going to take his marching orders. you know, this administration runs everything from the oval office and president obama's ideology, which is a left wing ideology. i don't happen to share it. he won the election, i get that, but you just can't convince me that a jack lew or chuck hagel are first class appointments. they're not. nobody's going to buy that. >> how much time do i get to respond to jennifer's points? >> you get about 40 seconds. >> look, i t
a comprehensive review. highlights from the news conference coming up. what does the future hold for tim geithner for his model for tackling the problems? this morning's early movers here on wall street. where is flo? anybody know where flo is? are you flo? yes. is this the thing you gave my husband? well, yeah, yes. the "name your price" tool. you tell us the price you want to pay, and we give you a range of options to choose from. careful, though -- that kind of power can go to your head. that explains a lot. yo, buddy! i got this. gimme one, gimme one, gimme one! the power of the "name your price" tool. only from progressive. >>> take a look at the dow map. boeing one of the biggest losers at this hour. it is down by 1.8%. we continue to monitor the faa conference out of washington. we will bring you the latest as soon as we have it. bank of america, no surprise there. wells fargo earnings dealing with softness down as well. wells fargo is down by 1.8%. >> trying to accumulate during the break some analysis of wells fargo. they're saying, listen, 10% annualized loan growth, not as bad
's much rumored pick to succeed treasury secretary tim geithner. the odds on favorite jack liew. he would expect to be confirmed, but some in the business community, they're concerned, because he has little market or business experience. >>> and an eerie twist here in the search for that missing plane carrying fashion icon vittorio missoni. his wife and five others, a plane vanished friday off the coast of venezuela. but according to these new reports, the son of one of the men on board got a text message sunday night that said and i'm quoting this text, call now, we are reachable. the italian telephone company confirmed the message was sent but couldn't verify when it was written. crews continue the search off the country's coast. >>> in seaside heights, new jersey, look at this. look at this closely with me. this is that roller coaster and you see this man, he climbed to the tip-top of it, to call attention to the recovery from superstorm sandy or the lack thereof. there he is, scaling the same coaster chris christie said he vacationed at, took his kids to. the structure swept into the
considered failures. tim geithner's tenure has been controversial but i think broadly speaking what he did to write the financial system will be considered a tremendous achievement in the annals of economic policy-making. but again, they are in something of a rut, i think, in their economic policy-making at this point, and particularly in their approach to dealing with republicans. a lot of that, i'd say frankly the bulk of that blame falls on the house republicans and john boehner. but it's nevertheless a case that they just put somebody into the treasury department who they intend to have lead a lot of their budget battles who john boehner at this point essentially refuses to work with. during the 2011 negotiations, they said boehner and the republicans said we just don't want to deal with lew anymore. we don't feel we can get him to say yes to us. now, to some degree that might be because lew is reflecting the will of the president, but i just think there's a kind of a siege mentality a little bit at the white house that's showing up in their appointments, which is understandable, but i
that to tim geithner. >> you could have a great year based on currency fluctuation and horrible year based on things out of your control. >> the kinds of things we're selling, a lot of them are long term capital goods. fluctuations day-to-day are not a big impact. large businesses are more impacted by fluctuations. the larger project whether building power plant or airplanes is less impacted. >> are you frustrated in the slowness of getting trade deals done? >> we had three trade deals done and we're now executing them. we had a record deal in c colombia. still banks think of colombia 10 years ago, not 21st century. it's been a strong market for energy and small business. >> where are we in small business? what's the left you'd like to see done? >> free-trade agreements? >> yes. >> i leave that to the trade reps. i think trade agreements are hard to do. look how long it took to get the last three done. they're just really hard to do. there's a lot of discussion. what i'm really focused on is emerging markets where we step in at the export import bank and close those deals. seeing a lot of
Search Results 0 to 18 of about 19 (some duplicates have been removed)